Russian juice and dairy company Wimm-Bill-Dann has posted 2002 net profit to US Generally Accepted Accounting Principles of US$35.7m, up 12% from the previous year, but well below analysts’ expectations.
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The company’s sales rose 22% to $824.7m, while earnings before interest, tax, depreciation and amortisation rose to $83.3m compared to $73.7m a year earlier.
Wimm-Bill-Dann said sales volumes increased 21.2% to 1.4 million tonnes in 2002.
In 2002, the company spent $39.6m on new plants, compared to $8.9m in 2001, and is expected to reap the rewards of its expansion next year.
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